uncle sam to bankroll a project. the idea stinks'. th >> i go to the university of california irvine, >> louisiana state university. >> virginia tech. >> guatemala. >> university of sou dakota. >> university of -- [inaudible] joh a special edition, 1500 college students from all over the world gathered here to debate what makes for free society. these are our future leader learning about liberty. students usual don't learn about that in school. tonight, what you ought to know about conomic freedom, free speech, personal responsibility, drugs, privacy, nd america's

constitution. stossel u, that's our show, tonight. ♪ [cheers and applause] and now, john stossel. [cheers and applause] john: thank you, you students are unusual. youhave a special interest in liberty. moss people don't which makes me wonder, how many of you ever discuss liberty on your campuses? how many of your professors discuss it? [laughter] how manyf hem discuss social justice? many more. i'm not surprised given the love for big government on big campuses. most of your professors probably don't know much about basic economics, which is why we titled this show "stossel university," and our professors

are ab biand john, here to tell students abot what they hould learn about economics. you can't do it all. first thing? >> first thing to learn is that intentions are not results. judge policies by results and not stated intentions. second, people in the public sector are just as self-intested and no more enlighted an people in the private sector. john: nice or vicious as everybody else. >> asolutely. john: they are doing the public good. they are different. >> that's what theyay. joh othe ideas are taught. higher taxes ecourage work. carl smith, who teaches economics at the university of north north carolinasays taxes make me poorer and when people are poorer, they work more for the things they want, threfore taxes should make me work harder. >> when you x something, you get less of it. if you tax work, there's less of it. same for investment in business. this is why in countries with high taxes like the united states, you see slow growthand

slojob creation. john: can you believe economic professors ach this stuff? >> i wonder if professor smith would double his teaching load if unc chopped the salary i half. i bet not. [laughter] john: there's a credit crisis, regulate the banks. you testified that dodd-frank is the cure. >> dodd-frank was passed in response to the financial crisis to prect consumers, but what we are seeing in practice is that consumers are having less access to credit and savings, and bank fees at record highs, and 3 million people shut out of the banking system. it's a law of unintended consequences. john: as americans, we should buy america. >> buying from foreign, we get goods at lower prices. you want access to the lowest priced goods, but when americans buy from foreigners we send that money abroad, money comes back to amera as demand for

american exports or investment in america. it's normally not seen by the people who on't know economics, but it's real, and it helps america. john: more patriic if i buy american stuff. >> no, no. when you buy american stuff for that sake, that means you are not employing resources as they should be employed. there's no reason you shouldn chse the best deal you can find. that's patriotic. john: income inequality. the theme of the day, and it is gross that some people have so much more than others, shouldn't government try to even it out? >> govnment already does to a large xtent so the top 20% of earners pay 70% of taxes. we have a huge social safety net. what's concerning to me is no income inequality, butwe have millions of people trapped in poverty from a broken welfare instigate, broken education system. john: a gallop pole inds 78% of people your age support raising the minum wage.

most of the public does, more people your age do. how many agree we should raise the minimum wage? [laughter] all right. well, you clear lier are libertarians. >> if you raise the minimum wage, you raise cost to employers of employing low skilled workers. when you raise the cost, you get less of it. simple as that. john: i want to hear from the students. what questions do you have for abby and john? take it away. >> okay, hi, i'm lauren clark from arizona state university. i'm currentlystudying journalism, so it's my dream to take over your show one day. john: please do. [laughter] >> my question to you guys is i'm also very interested in economics. why is it tat in the university sector, there's so many progressive peoplestudying economics when, to me, it's just reasonable sense? >> you know, i wish i had a good answer to the question. i don't underand why people who don't get economics don't get it. it's like they are blind to

reality and the fact that gravity is operational. >> but i also think they are not exposed to it. the majority of high chool students are not exposed to it or college students. can't be guilty for something you don't know. >> i'm sky lar, and i study economics at he university of alby, and my question to you guys is tht when talking about ncome inequality, how do you find the most effective way to relay to people it's government responsible for creating the disparity in the first place. [appuse] >> what, what, what? government? some people are sarter than others, some have a silver spoon. look, there's certainly crony capitasm, but i don't doubt that in markets, some peole prosper more income-wise. what i like to point out is that one of the great benefits of free market is while it increases from time to time, income inequality, it decreases consumption inequality. rich people do not consume much

more than poor people today. the difference between what poor people and rich people consume is shrinking ever, ever -- they are getting closer. john: you brought a catalog along to make a point? >> yeah. the typical american worker then had to work 30 hours to buy this vacuum, and today, they only work six hours to buy a better one. the poor are getting richer in america because of the innovative capitalism. [applause] >> i study history at eastern kentucky universy, nd i just wanted to see what your personal opinion of bitcoin as. >> i'm all in favor of anything that competes with monopoly central banks. [cheers and applause]

i hope it succeeds. john: have you bought some? >> i have not. [laughter] john: have you? i have. >> i'm dan, i go to community college and obamacare's first state of massachusetts, and i wonder if you guys believe there's, like, a better alternative to social spending such as food stamps and social security? >> the miton freed mapp had an idea, a negative income tax, basically, everybody has a guaranteedlevel of income, and it wouldn't have the same distortions the current welfare system has if this discourages work or marriage, for instance, and this level would be set low enough that people don't grw dependent on it. [applause] >> i'm michael ashley, student at the university of delts. what do you think is 5 good outline or effective measure of creating a small govenment that stays small?

>> one idea proposed to keep government smaller s to link federal spending as a percentage of gdp with an actual rule, and congressman are held responsible if they want to increase spending above historical norms. that's a good starting place. >> another ia is to repeal five rules and pass one. [laughter] >> my nam is ken williams, political science student at ohio university. in obamacare, with -- how -- where there's a distrust theme for the insurance companies because they want to make a profit, that te solution to that is to andate the insurance companies. >> where the idea comes from, i dot know, it's a dumb ida. [laughter] [applause] insurance companies have incentives to provide the right mix of coverage at competitive

premiums, and obamacare mandates this and that coverage, that interferes with private choices. private choices that give rise to better policies in absence mandates. john: thank you, out of time fr questions for this segment. thank you abby and john, and if you want to keep the conversation going, here's the twitter hash tag, isflc. i don't know how you remember that, but stands fr international students fr liberty conference, which is where we are. let people know what you think. coming up, what do you know about america's founding documents? i'll give you and our student audience a quiz. [chees and applause] [ female announcer ] it's time for the annual shareholders meeting.

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snot ♪ [cheers and applause] %-okay, college students, a quik pop quiz. in the constitution and declaration of independence, and here it is together, how many times is the word "democracy" used? fewer than five times or five or more times. who says ive or more times

here? who says fewer? all right. well, you guys are educated. i didn't know this. it never mentioned the word democracy so you people should read this. it's not long. our constitution is shorter than the constitution from most other countries. do u want one of these? get it from the cato institute, cato.org on the web, they charge you five bucks for them, and we give them out free. question two, the constitutiin was prepared in secret behind closed doors guarded by enturies. is that true? who thinks it's true this is true.

to learn more, we turn to someone who kos, tim, author of the conscious of the constitution. you went to a college where there wacontempt for this. some white men, some slave holders, why should this be so important today? >> well, the constitution of the united states is a promise about how government power will be used, and it's a promise that was left tous by a generation who lived under tyrannil government and needed a frame work to preserve the blessings @% liberty for posterity, and we have to be grateful for that. john: but it's not relevant today. >> it's true, but the constitution's promise has been broken time and time again by our government, but we are very fortunate we can at least point to it and say this is what the frame work of our government was designed to d. secure the blessings of liberty.

that's the most iportant part? >> thars right. liberty is a blessing. it does not say the same thing about democracy or government in general. the constitution was written to protect liiberty against government whether it b a democratic dporm of government or any other kind of government. john: but i also says ensure domestic tranquility. that could be speechcodes, decency codes. itsays promote the general welfare, obamacare, take care of ople. >> but that's only within the frame work of the liberty which the decaration says we are all born entitled to. the most mportant part of the constitution is its limitations. look at article 1 section 1, first sentence says "all legislative powers herein granted are vested in ongress." people skipthat thinking congress has all power to d whatever is a good idea. that's no what the constitution says, but says all powers listed

in the constitution are begin to the congress. if it's not in the constitution, congress does not have the power do that john: but they do it all the time. >>that's true, they do. unfortunately, the elected officials have a huge incentive to do what theyy think is popular. john: and the supreme court, for the most part, has not symptommed them. >> the supreme court goes with joust overreaching, especially in the obamacare case. what happened was the supreme court said, well, the government can't force people to buy things. now, that was, itself, actually a huge victory for individual freedom. can you imagine what would have happened if it came out the other way, if congress suddenly had the power to force us to buy whatever politicians think we should have? the court said then, well, but we're still going to uphold obama care because it's not the role of the courts to protect people from the political choices,nd that's flse. it is the role of the courts to enforce the constitution, which is a limit on political choices.

john: any supreme cou cases -- [applause] that you're happy with? >> there are. john: pick two. >> when i fell in love with the constitution in ninth grade and learned of the court's decision, tinker versus des moines school district, black arm bands protesting the vietnam w, and their teachers saidot to do this, and they sued and said we have a first amendment right to do this, and the supreme court ruled in their favor saying individual rights do not stop at the schoolhouse gate. when i read that deision, i made my parents drive me to the county law libary to poto copy thedecision, the days before the internet, and i felt in that decision, i felt the constitution-- john: you were an odd kid. >> i was a nerd. can you imagine? [laughter] i fel, when reading that discussion, i felt the constitution reach out and touch me and protect me and say my rights couldn't be taken away by

people telling me what to do. [applause] john: you also mention awrence versus texas. >> a supreme court case from a ten years ago now, i think, in whic the supreme court said the government does not have the right to tell us who we can sleep with. there was a texas law that made it illegal for two adults of the same sexto go to bed together in the privacy of their own homes, and the supreme court rightly said that's obscene in a free country, and that is why i love the constitution because there are moments like that when really helpless minorities and individuals who can't expect the legislative process to respect their rights, nevertheless have a shield in th form of the supreme court saying, no, this line is somethg that congress and the states cannot pass. [applause] john: qestions for tim? >> i graduated from monthclaire

state university in new jersey. my question is, if the constitution is the rule of law, the rulings for the government, and the government administers and enforces its own rules, how do we prevent them from breaking their own rules >> well, hat's a very good question. [applause] it's one that the founding fathers fought a lot about. in the federalist papers, james madison says in creating a government to protect people, it has to protect them from the government itself. now, patrick henry said at the ratificatn convention, no, no, it will not wonk, congress will do terrible things, madison said, have we then no virtue among us becuse if w ave none, we are in a wretched position, no ches and balanc protect us then. only the constitution has the meaning that we give i when we honor the promise, so, yes,the government has fallen away and ignored that promise on many occasions, but it's there for us tonforce as we go forward. [applause]

>> i studied communications, and my question for youis what d you think is the best method to reverse the policies created by the surveillance state? >> i think the best method to reverse policies is to elect new officials, but the best way to ensure constitutional liberty s secured is to enforce the constitution meaning sue, sue, sue, and i mean hat sort of sell officially because my profession is i sue the government for a living. it's -- [cheers and applause] [laughter] it's the greatest job inthe world. it's he greatest job in the world, and i do it for free i don't chrge my clients, and when u go to cort and make your argument, and you insi, the constitution says this, now it's up to you, judge, or you, court of appeals, oh you, u.s. supreme court, to follow what's written there. john: thank you, studesthank

you, tim, and later in the show, begin that most of your fellow students are left wingers, we'll have a debate about thbest way to argue with them, bt next, this art exhibit, this picture of it, the sculpture of a sleepwalking man in his underwear is upsetting students at one college, and they demand it be removed. should it be? that's when we come back. [cheers and applause]

dhp john: your students should be careful what you say at college. you might get in trouble if you say the wrong thing, if you offend people. report is with the foundation for individual rights and education, fire they call themselves, and so why do students need fire? in college, students say all kindof stuff. >> that's right.

studentare saying all kinds of stuff, but on campuses across the country, they are taking a risk by saying thngs. it's gottenso bad that students are actually going so far asto censor themselves or demand th things on their campus be censored because theymight make them ofend or uncomfortable. john: fire says 59% of higher education institutions have policies that infringe on our first amendment rights. >> well, a few years ago, it was 7 a%. it's gotten better, but, unfortunately, we see these in policies all across the campus. john: you list the worst colleges for free speech, state university of new york, harvard, university of alabama. what did they do? >> well, this is a ridiculous case. we had a student, a journalism studt writing a story for the school paper and hockey coaches, saying u how do you find your relations with the hockey coach to be, and on't worry, not everything you say has to be

compliment ri, and one forwarded that back to the administration and they actually got this studen in trouble for calling it threats, and something they said on chasm pus, and not everything has to be positive. john: why is harvard number two? >> read the e-mails of 16 of the resident deans because they were trying to figure out who was leaking information about a cheating scandal at harvard. john: at brown university, ray kelly was prevented from speaking. >> you let him speak and make committee as part of the question, answered part of the program. >> stop suppressing people. [cheers and applause] >> reporter: he eventually gave up and left the auditorium, and this happnedded to me at brown. they pulled out my microphone cord. this is a lieral arts institution. they are supposed to hear all sides.

well, ts happens because we train students k-12 and into college t believe that certain views are so abh rid they can want be spoken. it had to do with stop and frisk policies, and he came to give a speech what he knew would be hostile audience and agreed to take questions, but that was not good enough, and so these organized heck leersfor 27 minutes disresistented the speech. he onlygot a few words out before it went on,nd for 27 minutes, he gave up and left. that is the very opposite of the environment we're supposed to have on college campuses. they were going to have a q&a session, and if nay octobered, they had the chance to prove him ong, but they squandered that end dpaijing in that censorship. john: hat's the deal with the sleepwalker statue? >> imposing a since of empathy,

vulnerable, and that'sot how the students have seen it. they see it as a threatening image. it's an all-women's school, and say it might trigger emories of sexual assault who see it because it's a man who is not fully dressed. other people objected that they think it's whiteness and maleness are a real imposition on campus and calle it discomforting. upjohn playing therole of the univeity, we want people to learn, to be comfortable. if it's an ugly climate, you're a big fat parasite lawyer and i'm screaming at you, how can people learn? shouldn't there be a civilized public square, especlly in a university? >> well, civility is an important value, but i's not near as important as freedom, and the fact is, if we're training students, an elite liberal arts college, so afrid of a tatue they are

uncfortable to walk around campus, go to class, ad learn, something is wrong wit our level of toleranc for the different views. you're going to see, you know, white men, maye in their underwear sometime in your life. y can't let that throw off your entire lifestyle. john: thank you, robrt. [cheers and applause] coming up, we'll talk drugs and privacy, but next, ae you students ripped off by your college? i think many of you are. that's next. [applause]

♪ john: welcome back to a special edition of the show from the students for liberty conference in washington, d.c.. now, i assume when you students graduate, you'd like to earn money, get a job, but will you?

mayb your college is just wasting your time and your money. kmele foster says you need to take responsibility. foster is cohost of the new fox business program "the indents," and you started in college. >> i started a small telecommunications consulting firm, spent ten years doing that. i did not, at the time, drop out of school. i went about o or two classes at a time, but i didn't borrow a bunch of money to finance my education. i went on from there to start two other small companies, one in new media irm thatdoes film production and anoth, a retail and manufacturing company that makes camera accessories. john: just wanted to do it? >> i just wanted to do it. it's increasigly rue your college degree does not prepare you for the world we encounter. we have a significant unemploynt problem right now, and a great deal of 245 has to

do with the sort of policies we pursue as a country, but some of it is structural. there are people graduating from college who are getting liberal arts degrees and don't have the sortf skills necessary to actually comete in the job market. they are not entrepreneurial enough, and it's just the sort of thing that's not realy being taught at most universities. john: in trying to be an entrepreneur, i find it's something that makes people understand the benefits of limited government. i don't know why you people became libertarians. i assume you didn't all start businesses, but people say, i had no idea this is what business people have to go through. >> interestingly, that's one of the things that make me most optimistic about the future is that people havea -- a pretty warm feeling about entrepreneurs in general, and more and more people feel they can be entrepreneurs. there's an increasingly free agent culture, and there's something wondful that happens when more people have to make payroll, and when more people find themselves dealing wth

government bureaucracy in the most ordinary and regular ways, whether it's running your payroll and having to deal with the various tax agencs you have to get records and numbers fr, and it's doing everything exactly the same way for a number ofyears, and then finding out something was wrong, and having someone come into your office to screw roundwith you for the sace of to and a half months. it's wasting 33% of your time in a fairly small cmpany with ten employees to comply wth various burdensome regulations. john: we need more people to start businesses to wake up? >> absolutely, absolutely. john june and yet colleges teach people, you list the fun courses. princeton has a course i getting dressed. >> yeah. [laughter] because no one at princeton could master that on their own. just couldn't happen. john: university of california san diego, god, sex, chocolate, >> sounds delicious andal path.

wonderful. [laughter] university of texas invented languages, clingon and beyond. it's amazing. what is college? it is folks paying 20-50,000 a year for an extra four our more years of adolescence. that's fine. it's nice. it's a bad idea to sub subsidizt th tack payer dollars a a bad idea to tae out lopes in order to do that. john: thank you kmele foster of "the independents," coming up, what school doesn't teach you about personal freedom, like, should i be allowed to open this little case and do this? [cheers and applause] to complicate

♪ our time is short ♪ this is our fate ♪ i'm yours

john: welcome back to "stossel l u," and this is about perm liberty. it's limited to two to i ttinks. the nsa creepily spying on us

and illegal drugs. how many of you have never used an illegal drug? including alcohol when you were not yet 21? [laughter] some of you. all right. the -- clearly a minority. the editor of my favorite magazine says once your an adult all substances should be legal. she's from "reason" magazine. [cheers and applause] all drugs, every single one? crack, meth? >> i think legal drugs are safer drugs, and that's the best place to start with. your e-cigarette that you coolly smoked earlier. john: try. >> this is a safer productthan a rgular cigarette. that's because somebody figured out how to make money selling s drugs that we want to consume. the people who make money on drugright now are people willing to operate in black

markets, and i'drather see it all out in the light of day. john: this is really just the substitute nicotine delivery system, no bad smell. it's just vapor. >> exposes a weird puritanical element on the war on drugs. it's literally just, oh,you like that chemical in there that makes you feel good? we don't want you to have it. john: i think they are also saying if we allow this, this sends the message that smoking cigarettes is okay. >> right, well, i mean, i think ideally we find ourselves in a worldwhere the message sent is using drugs, choosing what you want to put in your own body is your own usiness, but that we should hopefully let companies provide safer alternatives, providemore reliable alternativ to the back market drugs out there. john: all right. this is not what most of the time wre talking about when we talk about illegal drugs. we're talking about the nastier es like meth that really hurt people, lots of people, and

well-meaninged authoritarians say we can redce the amount if we make it illegal. >> and that's worked out so well so far. [laughter] john: they argue more of it. [applause] >> like this, you know, cocaine inventing machine is it the american way? i get than an alarming concepp to people, but if you look at th huge damage that the war on drugs has done, the disproportioned damage to black communities, students' lives ruined, the costs are huge, and it's not working. heroin is cheaper now than it was 30 years ago. john: nsa spying. when the nsa spying story irst broke, i upse libertarians by saying i was not that upset. i figured that my enemies already had all the information. i mean, my neighbor was stealing my e-mal of the year, google, facebook had the information, and i posted a list of a hundred things that government does that upset me more than data mining, like our 17 trillion dollar

debt, corrate baiouts, rules against school choice. i don't say all those hundred things are as important as nsa spying or as potentially dangerous. it's just that i can understand the government's reason for wanting to do it. peop want to kill us. >> you know, tas true -- that's true, up to a pont. way we seize more an more information is coming out about how incredibly offensive the data mining is, we are seeing not a lot of evidence that it works. i mean, this 1 the old saw. if you sacrifice libty for security, you get neither, and th's where we are right now. [cheers and applause] what i say -- i love it when google takes my data. they can have all my data. if i could give my brain to google, i would, because they give meomething i want in exchange. i get ads that are foor procts i want to buy. john: personal safety.

>> gives me services, but the nsa says i give you personal safety, or i might put you in jail; right? this is kind of the backstop. going the can't put me in jail. the nsa can. john: let me poll the audience, who agrees with her? [cheers and applause] who agrees with me? very few. i'm losing his. all right. your turn, students. >> i'm michael line, doing politic philosophy at the university arizona. i'm self-diagnosed with ipolar disorder and a host of medicines i take with a host of side effects, and i don't think it's anybody businesses how a drug interacts with my body, and i don't think it's beneficial to bring that to the light and so people understand sort of what drugs do for whom nd how they interagent with what. it's my business. not anybody else's. to me, it seems sort o counter individualistic to propose that,

i want to legalize drugs such that the entire body public can understand them when it's frankly none of their business in the first place. that's my question to you, is how do you think that's ohe'sive with the individualism? >> i think individualists and libertarians should always favor letting knowledge be free. i think mmre information is good for individuals to make thir own choices. [applause] >> i'm ryan. i'm a freshman at the op line gh school, my virtual academy. how do we deal with the liberal bias in high school? there's a lot of i i've dealt with it quite recently learning about franklin d. rosevelt, ad it praises him like he's some sort of god, and he's not. he ruins everything.

[cheers and applause] how do we deal with that? how do we communicate liberty and real feedom in that into high school? >> the first part of the question answered the second. if you go to a online high school, yo opted out of the system, so congratulations. [cheers and applause] >> i'm elizabeth francis, senior at kansas state university. what are some things that maybe audiences back home can take to help advance personal lierty and work towards changing public policy? >> well, there's actually a great campaign out there that's justasking people who have smoked weed to be open about it. successful people. i think that's a great place to start. you know, i have a job at a bank. i smoked weed. [applause] i have a kid. i smoked weed. [applause] john: thank you coming up, most of you students

attend liberal colleges. you have to deal with students and professors who love big vernment. how might you educate the? a debate on that next. [applause] ♪

[ laughter ] ♪ [ female announcer ] each one of us isur own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can helyou take charge of your future. ♪ jjhn: if you learn anything at stossel u, the best type of government is limited government. these students understand that. why don't other people get it?

how can we convie them? kathy and julie sa they know how. julie has a youtube channel called token libertarian girl. kathy is editor of ablog called sex and the state. which is a cool itle. [laughter] kathy, you say to open other people's minds, libertarians should check their pivilege. what does that mean? >> unfortunately, libertarianism is overwhelmingly dominated by straight, middle income, well-educated white men, nd so -- jo the overclass. >> right. h can we make libertarianism appealing to other people because the demographic is decreasing as a percenta of the population, get people not hostile to the ideas. there are certain things you can't know on the basis of who you are. in order to understand, for stance, discrimination, for me, men is lik i have to check my female prief privilege and listen to the experiences.

john: talk about things like making birth control available over the counter? >> abolutely. john: for blacks? end the drug war, allowing school choice, his hispanics, e-verify, needing permission from a government data base forer hiring anybody. >> a story from my own personal life, i was a prohibitionist because it never occurred to me that police used drug laws to gather ars squad teams ad burst down doors and carry people off to prison and disproportionally people who do not look like me john: seems like a reasonable argument to me, julie, and you don't buy it? >> well, for me, the main component of libertarianism is individualism. maximize freedom for every individual. what i've noticed with the privileged crowd is it's very devicive, negative, and it's class warfare and jealousy. john june this "check your privilege" expression is a leftist college expression.

[applause] >> i don't like the term "check your privilege" because i read youtube comment and say the request check your privilege," but never say oh, you make a good point, ill check my privilege. people get so defensive over it, and rightfully so. they make a predetermined judgment about the person. it's downrigh rude. [applause] john: it's not nice to divide people in categories. we are all individuals. >> absolutely. unfortatelily, the reality is that racism, sexism, homophobia, and transphobia exists. without acknowledgi real inhibitors to individual liberty fo certain identities, we are hampered in the ability to truly, as in my experience, advocate for them effectively.

[cheers and applause] john: as i look hre, i see disproportional whitmen in ties, even bow ties. they look like the over class. i would think it'sa turnoff. >> there's a lot of white men here. it has more to doowith libertarianism beinnerdy more than anything else to be honest with you. i'm a nerd myself, so i can say that john: all rit. this is all food for thought. audience, i want to ask, whose argument is better? who iis more persuasive? let's have a vote. whosides with julie, not ague by sex, race, and ethnic groups? [cheers and applause] john: who sides with kathy and says we should? [cheers and applause] john: fewer hatsdz more noise. both good points. thank you, kathy, joule le, and thank you to all of youu for attending "stosse u," that's

our show, and thank you at home for watching. [cheers and applause] ♪ could split the country in two. >> keep it here for more coverage in ukraine. join us after the show now. e you tomorrow. >> here we go again. with our debt still going off the charts. a push to spend even more of your tax dollars and back on. president obama calling for $56 billion in new spending on everything from more green initiatives to new manufacturing institutes. this on the heels of some republicans helping to hike the debt limit. so what part of we are broke doesn't shington understand? hi, everyone, this is "bulls an bears." i' brenda tner. the bulls.